Networth 0 at 33 - what to do?

IBM
warrior448

Go to company page IBM

warrior448
Oct 5, 2021 26 Comments

My current networth is nil or taking some INR into account around $15k.

I have no assets and no stocks.

What should my target net-worth be, and where should I invest my money going forward.

Located in the USA for now.

TC : 150k

Edit : Came from India, had a bad TC there. Savings went into some expenses.
Is it too late?

#personalfinance #investments

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TOP 26 Comments
  • Amazon
    mhhubcv

    Go to company page Amazon

    mhhubcv
    I came to the USA with negative NW at 32. After 8 years my NW is 2M. You are not late.
    Oct 5, 2021 4
    • Amazon
      mhhubcv

      Go to company page Amazon

      mhhubcv
      In past 1 year my NW doubled. Thanks to real estate property value increase and stock market growth. TC was not good until recently. 450K+ TC from last year. Saved 250K (401k + Stock + 529 etc + cash reserve) of my first years new TC. Did not change any lifestyle, except for few extra dine outs with wife and kids. I plan to save 250K+ very year from now on.
      Oct 5, 2021
    • Cisco
      gazni

      Go to company page Cisco

      gazni
      @mhhubcv
      this clearly is an outliner. Yes, blind is filled with people like you and college grads making millions and cracking fang interviews making 500k+ TC.
      In avg case, this is just not true(making 2M in 8 years). This needs tremendous luck, talent etc. I have been in US for 10 years and my NW is ~1M.
      That said @warrior448 you are not late. Keep pushing and you will reach a good NW soon.
      Oct 5, 2021
  • Twitter
    JyLV63

    Go to company page Twitter

    PRE
    Route4Me
    JyLV63
    It is normal for new immigrants
    Oct 5, 2021 0
  • Amazon
    m2c

    Go to company page Amazon

    m2c
    Honestly, you should go over to r/personalfinance if you want some good guides.

    These kind of “how much should I have saved by X” questions are hard to answer because it is super dependent on your life style and your goals.

    In general, outside of tech, I recommend people have 1 year’s salary saved by 30 and 2 by 35 which means given your TC you ideally would have ~225k saved.

    The reason I say outside of tech is we generally have higher TCs and start out higher than nearly all other profession so ideally we would have more in savings.

    For where to start I’d recommend tax advantaged accounts like a 401k if you plan on being in the US long term
    Oct 5, 2021 0
  • Apple / Eng
    OurSQL

    Go to company page Apple Eng

    OurSQL
    Keep working
    Oct 5, 2021 0
  • Google
    yAVI06

    Go to company page Google

    yAVI06
    Much better than having huge debt. And you're still young.
    Oct 5, 2021 0